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Hi guys, I was thinking about become a real estate agent, or a real estate broker. which one would you think makes more money? & which one do you think is more in high demand, I currently reside in Virginia but I'm about to move to Texas and I was wondering would it be easy for me to get a job somewhere in Texas? Also what is the annual income for a real estate agent/broker? Thanks in advance!!
YOu need to become an agent first and then you can become a broker. If you visit the washington real estate commission website, it will explain it to you. If you move to TX, you will need to get your washington real estate license.
A "broker" is technically the boss (or in charge of) a group of real estate agents. As such, a broker can earn more (often does, but not always). But I suspect you're just confusing the two terms--agent and broker. For your purpose, you want to become an agent, not a broker. As an agent, you don't get a job. And as an agent, there's no annual income. You work off a commission. And you're an independent contractor. So: You get your license. Then you find a brokerage at which you "hang your license." Most will accommodate you. Then you start selling. All commissions are negotiable, and different brokerages will give different commissions. But--just roughly, in general--often your part of the commission could end up being about 1-1/2%-3% of the sales price of the property. (Depends on lots of factors.) So on a $100,000 property, you might end up with a commission of, say, $1,500. Sell 10 homes a year and you'll make $15,000. Sell 30 homes a year (that'd be very good) and you'd end up with a $45,000 commission. Out of that, you'd pay all your expenses--car, licensing fees, membership in the National Association of Realtors and your local boards, an MLS fee, marketing, advertising, etc. Hope that helps.